W.R. Grace to pay $34M for Cleanup at 32 Sites
W.R. Grace, a
global supplier of specialty chemicals, has agreed to a $34 million
bankruptcy settlement for cleanup costs at 32 Superfund sites across
the country, the U.S. Justice Department (DOJ) announced. The action
settles a bankruptcy claim brought by the federal government to recover
money for Superfund site cleanup.
The company has corporate headquarters in Columbia, Md., and
employees in nearly 40 countries. The company manufactures construction
chemicals, building materials and chemical additives, among other
things.
"This settlement will make money available to substantially help the
cleanup of many Superfund sites around the country," said Ronald J.
Tenpas, assistant attorney general for the DOJ's Environment and
Natural Resources Division. "This settlement is a good outcome for both
the taxpayers and the environment."
The federal government determined that the company contributed to
the contamination at the sites under the Comprehensive Environmental
Response, Compensation and Liability Act, commonly referred to as
Superfund. The settlement will be used to reimburse EPA for past costs
and to pay for future costs associated with cleaning up at hazardous
waste sites in 18 states.
W.R. Grace and 61 affiliated companies filed for bankruptcy in April
2001. In March 2003, EPA filed claims against the company to recover
past and future cleanup costs. Upon approval of the Bankruptcy Court,
EPA will have an allowed claim in Grace's bankruptcy. Grace's plan of
reorganization will determine the extent to which allowed claims will
be paid.
The settlement agreement will be lodged in the U.S. Bankruptcy Court
for the District of Delaware and is subject to court approval after a
30-day public comment period. The settlement agreement does not resolve
environmental claims related to the cleanup of the Libby Asbestos site
in Libby, Mont., and the Curtis Bay site near Baltimore. These claims
are still pending.